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The following table sliows tlie hogs packed in the western States, the tenths 

 decrease of fattening hogs this year below that of last year as returned by cor- 

 respondents, and the decrease which that will occasion in the number packed 

 during the coming pork season : 



If the above table represented the hogs fattened in the respective States 

 named, its correctness as to the decrease stated might be relied upon, but 

 it shows not the number fattened, but the number packed in each, which is an- 

 other thing. Thus, for instance, Indiana has less than a third of the number 

 packed in Illinois, whilst it is the greatest hog-producing State in the Union. 

 Illinois not only packs many Indiana hogs, but also largenumbers of Iowa 'and 

 other States. Nevertheless, the decrease, as shown above, may be considered 

 reliable as a general exhibit of the amount of the deficiency. 



In the March and April report of this de])artment we remarked, " The active 

 demand and light prices for the products of pork indicate that the markets will 

 be bare next fall." In support of this view, expressed so far back, we refer to 

 the statement of that well-informed paper, the Cincinnati Price Curre?if, which, 

 in its issue of October 19, thus speaks of the present condition of pork markets: 



" The stock of old pork and bacon now in the hands of dealers is small, and 

 when new comes into market there will be but little of the old left. A year 

 ago the stock was large, very large, and so were the stocks of American provi- 

 sions in the English markets at that time, but they are quite small there this 

 flill." 



This state of the market, both home and foreign, considered in connexion 

 with the scarcity of hogs, clearly points to the highest possible prices for hogs 

 during the ensuing packing season. We may add that the great want of stock 

 food in England, as is seen from the article in tliis report on English and foreign 

 harvests, must cause very high prices next spring and summer for meats in 

 Great Britain, and consequently an active demand there for our pork and cut 

 meats. 



But home prices will not be governed only by this scarcity here and in 

 Great Britain, but, to a great extent, by the price of gold, which will be influ- 

 enced by the success of the Union armies, by the numbers of troops in the 

 field next winter and summer, by the extent of foreign imports, and by the 

 quantity of paper money. Whilst all is encouraging as to the success of the 

 Union cause, yet nothing as yet indicates the number of troops necessary to be 

 kept in the field during the winter and summer of 1865. As to imports, they 

 have lessened much, and will, in all probability, continue decreasing. The 

 amount of paper money, it is presumed, will not be materially increased, for, 



